Problem Statement: ME Board April 1998
How much must be deposited at 6% each year beginning on January 1, year 1, in order to accumulate P5,000 on the date of the last deposit, January 1, year 6?
- A. P728.99
- B. P742.09
- C. P716.81
- D. P702.00
The amount that must be deposited at 6% each year beginning on January 1, year 1 is P716.81.
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